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Starting Up? Expanding? Escalate 0% Loan

Are you looking to start up or expand your business in West Kent or East Sussex? Take advantage of an Escalate 0% Loan!
Escalate is a new fund that offers financial assistance to businesses looking to invest in new products, processes or markets, or potentially looking to expand existing activities where they will lead to increased sustainable employment.
Escalate loans will be interest-free and will be used for specific investment projects (not working capital) which will:

• create jobs
• support innovation (for example by commercialising a new product or process) 
• be able to attract additional funding through Escalate support.

Find out more at www.kent.gov.uk/escalate

Deadline tax event for new sources of income or gains should be advised by 5 October 2011 where no tax return issued for year  April 2011

 

Late Tax Payment - no interest

We have now received some further details from HMRC, including the news that if statements arrive late, taxpayers will not be charged interest provided they pay within 30 days of receipt of the statement.

Help Paying your Tax

HMRC Debt management are being extremely helpful at this difficult time and will help with time to pay arrangements Contact us to see if you qualify and you want to know more...

 

Tax Return Deadline

Less than 4 weeks to complete tax returns for the year to 5 April 2010. If your tax returns haven’t yet been submitted it is essential to contact your accountant to avoid penalties and interest being levied.

Increase in the standard rate of VAT to 20 per cent

The standard rate of VAT increased from 17.5 per cent to 20 per cent on 4 January 2011.

For any sales of standard-rated goods or services that you make on or after 4 January 2011 you must charge VAT at the 20 per cent rate. If you have a cash business and calculate your VAT using the VAT fraction you must use the VAT fraction of 1/6 on your standard-rated VAT inclusive sales from 4 January 2011.

The change only applies to the standard VAT rate. There are no changes to sales that are zero-rated or reduced-rated for VAT. Similarly, there are no changes to the VAT exemptions. Any sales you make at these rates are unaffected by this change.

More information can be found on the HMRC website here